Ann: December Quarterly Activities Report & Appendix 5B, page-16

@saltbus (or anyone else here wanting to chime in) am i missing something here?...

Couple of things seem to be holding this back imo....

Firstly, the wall of sellers at 0.003....most likely placement stock as that's one tick up and 50% gain....however, if you were genuine about selling would you stack the sell side like that? Seems like they're shooting themselves in the foot here....orrrr, it's simply a capper trying to rattle out shares at 0.002....

Secondly, the market is having a hard time understanding/valuing BAS, because if it was clear, the share price wouldn't be 0.02/0.003....IMO.

They are currently upgrading the facility to cope with increased production....this is not due to lack of flow rate from current wells, simply the production facility being at capacity. Sooo....

Worst case scenario....@1400 bopd and oil price at $55pb (allowing for a bleak outlook....) BAS would be banking approx US$2mill p.a after production/admin/tax costs....that's almost half the MC....AUD$3mill
If you take a more optimistic outlook and price oil @$65pb, factor in cost recovery mode on field production, BAS has the potential to bank almost double the above....

....either way BAS currently looks considerably undervalued and judging by the lack of commentary and zero trading volume it would seem it's mostly due to the market not understanding the intricacies??